Philippines’ Jollibee raises stake in U.S. based Smashburger Master

MANILA (Reuters) - Philippine fast-food giant Jollibee Foods Corp said it would pay $100 million for a 45 percent stake in Smashburger Master, making it the majority owner of the U.S. hamburger chain, as it steps up its global presence.

MANILA (Reuters) - Philippine fast-food giant Jollibee Foods Corp said it would pay $100 million for a 45 percent stake in Smashburger Master, making it the majority owner of the U.S. hamburger chain, as it steps up its global presence.